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Venezuelan Opposition Party Demands Transparency Over Oil Deal With US
🇵🇾 Paraguay /Elections & Politics

Venezuelan Opposition Party Demands Transparency Over Oil Deal With US

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

Newswire Named sources New plan
  • Primero Justicia demanded transparency and verifiable guarantees over the oil agreement announced by Venezuela and the United States.
  • The opposition party said Venezuelans should know how the deal will be administered and how its revenues will benefit the country and its people.
  • The agreement covers 17 strategic fields, runs for 25 years and targets production above 1.5 million barrels per day, according to Venezuelan interim President Delcy Rodríguez.

Venezuela’s opposition party Primero Justicia is demanding details about an oil agreement that it says gives the United States control of more than 20% of the country’s crude reserves.

The party, part of the main opposition coalition, said the scale of the deal required transparency, accountability and guarantees that could be verified. It called for the terms to be made public, along with plans for managing the revenue and ensuring that its benefits reach Venezuelans.

Given that this is a large-scale agreement between two countries with implications for our future, we demand transparency, more information, accountability and verifiable guarantees

— Primero JusticiaThe opposition party’s call for disclosure and oversight of the Venezuela-US oil deal.

Primero Justicia said it supported investment but argued that oil development should accompany a democratic transition. The party said rebuilding Venezuela would require crude production as well as restored institutions and guarantees for a free election. It also said the industry needed technical capacity, legal certainty, institutional controls and clear rules.

The agreement announced Friday provides for the development of 17 strategic oil fields. Delcy Rodríguez said those fields have proven potential of 65 billion barrels and that the agreement will last 25 years, with a production target above 1.5 million barrels per day. Using a reference price of $65 per barrel, she said Venezuela could receive $209.335 billion under the arrangement. US Secretary of State Marco Rubio called it “a great victory for both the American and Venezuelan people.”

a great victory for both the American and Venezuelan people

— Marco RubioThe US secretary of state’s characterization of the agreement.
About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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